Former Spartech chief Holt lands at Proto Labs

By Frank Esposito
Senior Staff Reporter

Published: February 7, 2014 12:24 pm ET
Updated: February 7, 2014 12:25 pm ET

Image By: Spartech Corp. Victoria Holt

Related to this story

Topics Injection Molding
Companies & Associations Spartech Corporation

Former Spartech Corp. leader Victoria Holt has been named president and CEO of quick-turn manufacturer Proto Labs Inc.

In a Feb. 6 news release, Proto Labs founder and chairman Larry Lukis said that Holt's "track record of leading companies with large and diverse operations…makes her an excellent choice" to lead the firm.

Maple Plain, Minn.-based Proto Labs uses injection molding and CNC machining to make custom parts for prototyping and short-run production. The publicly-held firm posted sales of $126 million in 2012.

Holt led Spartech — a leading plastic sheet maker and compounder — from 2010 until the firm was sold to PolyOne Corp. for $393 million in early 2013. She received a golden parachute payment of more than $5 million in cash, equity, pension and benefits after leaving Spartech.

Prior to joining Spartech, Holt had been senior vice president at paint, glass and coatings maker PPG Industries Inc. At Proto Labs, she will be replacing Brad Cleveland, an original employee from the firm's 2001 launch.

Cleveland has said he wants to start his own company, possibly in the alternative energy field. Cleveland's "fantastic organizational and team-building skills have made the company what it is today," Lukis said in the release.

He added that Holt "has the complementary experience to build on our accomplishments and leverage Proto Labs' strong platform in the years ahead."

In August, Proto Labs officials announced that the firm was buying a 175,000-square-foot building in Plymouth, Minn., about 10 miles from its headquarters. Proto Labs will spend about $15 million to turn the building into a production site by mid-2014.

Proto Labs already has four buildings totaling 300,000 square feet in the Twin Cities area. The firm employs 490 in Minnesota, including a site in Rosemont. Proto Labs also has facilities in Telford, England; and Yamato-Shi, Japan.

On Wall Street, Proto Labs' per-share stock price has enjoyed substantial growth. The price was near $40 in early 2013 but closed near $78 on Feb. 6. The firm has been public since February 2012.


Comments

Former Spartech chief Holt lands at Proto Labs

By Frank Esposito
Senior Staff Reporter

Published: February 7, 2014 12:24 pm ET
Updated: February 7, 2014 12:25 pm ET

Post Your Comments


Back to story


More stories

Image

Small is beautiful in Nissei's newest press

November 21, 2014 2:14 pm ET

Responding to customer demand for flexibility, Japanese plastics-equipment manufacturer Nissei Plastic Industrial Co. Ltd. is demoing a caster-...    More

Image

Three advancements have driven injection molding technology

November 21, 2014 6:00 am ET

Injection molding technology has made major advances in the last 25 years, from largely a world of shoot-and-ship to doing as much as possible at the ...    More

Image

Netstal, Electra Form team up for PET preform partnership

November 20, 2014 3:15 pm ET

The Netstal division of Krauss-Maffei Corp. is teaming up with Electra Form Industries in a partnership to offer PET preform machines and molds as a...    More

Image

Thomson Plastics opens N.C. plant

November 20, 2014 3:12 pm ET

Custom injection molder Thomson Plastics Inc. has opened a new manufacturing facility in Lexington, N.C.    More

Image

Molder Carclo expands in China, chasing medical growth

November 19, 2014 3:44 pm ET

U.K.-based injection molder Carclo plc is “significantly” expanding its Chinese medical manufacturing capacity with a new factory, as the ...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events